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Ad #7849207
MLS #791536
Listing photo

SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR

Panama City, FL 32401
$724,000
--Beds
--Baths
5,222Sqft
0.41Acres

About this property

SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR RATE BUYDOWN! Welcome to 119 College Avenue, an exceptional income-producing property featuring six rental units in a well-maintained, recently remodeled setting, currently generating approximately $83,460 in gross annual income. Situated on a spacious 0.4-acre corner lot in Flood Zone X (no flood insurance required), the property consists of four total buildings, all with newer 30-year dimensional shingle roofs installed in 2019. The primary residence has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (Units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new HVAC systems, and updated kitchens with new appliances. Unit 1 is a 3-bedroom, 2-bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new LVP flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3-bedroom, 2-bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new LVP flooring throughout. Unit 3 is a 2-bedroom, 1-bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single-family homes: Unit 7, a 3-bedroom, 2-bath unit with a utility/storage area rented for $1,100/month; Unit 5, a 2-bedroom, 1-bath unit rented for $990/month; and Unit 6, a 2-bedroom, 1-bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income-producing units. All rentals are professionally managed by ERA Property Management, making this a seamless, turnkey investment opportunity. Floor plans are available in the Documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi-unit property.

Property Features

0 Beds
0 Baths
5,222 Sqft
Built in 1936
0.41 Acres
Siding: VinylSiding
Shingle Roof
Electric (Heating), Central
Bay County
[No Recorded Subdiv] Community

Additional Photos

Additional listing photo 1
Additional listing photo 2
Additional listing photo 3
Additional listing photo 4

Contact Information

Kaci A Hawes

Neubauer Real Estate, Inc. ERA

850-628-4537

Location

Map
Listing Agent: Kaci A Hawes (License #: SL3441260) 850-628-4537
Broker: Neubauer Real Estate, Inc. ERA 850-785-1551 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 11, 2026

Photo Gallery

SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 1
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 2
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 3
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 4
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 5
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 6
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 7
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 8
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 9
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 10
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 11
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 12
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 13
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 14
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 15
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 16
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 17
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 18
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 19
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 20
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 21
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 22
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 23
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 24
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 25
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 26
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 27
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 28
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 29
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 30
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 31
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 32
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 33
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 34
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 35
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 36
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 37
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 38
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 39
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 40
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 41
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 42
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 43
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 44
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 45
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 46
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 47
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 48
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 49
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 50

$724,000

--
Beds
--
Baths
5,222
Sqft

Panama City, FL 32401

By contacting this agent you agree to these Terms and Conditions.
Home Florida Panama City
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 1
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 2
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 3
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 4
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR - photo 5
MLS# 791536
Lot For Sale

SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR

$724,000

Panama City, FL 32401

--
Beds
--
Baths
5,222
Sqft
0.41
Acres
$724,000
Panama City, FL 32401
-- Beds
-- Baths
5,222 Sqft
0.41 Acres
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR RATE BUYDOWN! Welcome to 119 College Avenue, an exceptional income-producing property featuring six rental units in a well-maintained, recently remodeled setting, currently generating approximately $83,460 in gross annual income. Situated on a spacious 0.4-acre corner lot in Flood Zone X (no flood insurance required), the property consists of four total buildings, all with newer 30-year dimensional shingle roofs installed in 2019. The primary residence has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (Units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new HVAC systems, and updated kitchens with new appliances. Unit 1 is a 3-bedroom, 2-bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new LVP flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3-bedroom, 2-bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new LVP flooring throughout. Unit 3 is a 2-bedroom, 1-bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single-family homes: Unit 7, a 3-bedroom, 2-bath unit with a utility/storage area rented for $1,100/month; Unit 5, a 2-bedroom, 1-bath unit rented for $990/month; and Unit 6, a 2-bedroom, 1-bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income-producing units. All rentals are professionally managed by ERA Property Management, making this a seamless, turnkey investment opportunity. Floor plans are available in the Documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi-unit property.
54 days
on BeachHouse.com
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Property Details

HOME DETAILS

0 Beds
0 Baths
5,222 Sqft
Built in 1936
0.41 Acres

EXTERIOR

Siding: VinylSiding
Shingle Roof

INTERIOR

Electric (Heating), Central

FINANCIAL & COMMUNITY

Bay County
[No Recorded Subdiv] Community
See More Details

Location

Map
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Ad Statistics

Ad Number
7849207
Viewed
48 times
Listing Status
Active
Added
Jun 18, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM

Listing Information

Data Source
Central Panhandle Association of REALTORS
Source Property ID
791536
Listing Agent: Kaci A Hawes (License #: SL3441260) 850-628-4537
Broker: Neubauer Real Estate, Inc. ERA 850-785-1551 Listing Site
Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 1
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 2
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 3
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 4
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 5
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 6
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 7
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 8
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 9
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 10
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Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 12
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 13
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 14
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 15
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 16
Rare Opportunity, 3.94 acres, zoned R-1 and R-2 available for - photo 17

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Added: 06/16/2026 • Updated: 06/16/2026
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is committed to ensuring digital accessibility and property listings for individuals with disabilities. All information provided is deemed reliable but is not guaranteed and should be independently verified. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, please let us know.

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Last updated on 2026.08.11
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